3 Trading Firms Still Short Bitcoin and Ethereum Despite Sharp Price Rally

Three cryptocurrency trading firms—Abraxas Capital, Fasanara Capital, and Wintermute—continue to hold substantial short positions totaling more than $600 million in Bitcoin and Ethereum, according to analysis from blockchain tracker Lookonchain. The positions consist of 138,569 Ethereum tokens valued at $338 million and 3,425 Bitcoin tokens worth $265 million. Lookonchain identified these accounts as market maker hedging operations rather than speculative short bets.
The cryptocurre